Cheap Transfer Money

Now 25 countries in the Internet service portal Eschborn – in Germany living more than 15 million people with an immigrant background. Many of them support families and friends in their countries of origin, by regularly sending money home. The problem: For transfers outside the EU’s borders often high fees. To make this change, the service portal in the Internet, in order there by the German Federal Ministry for economic cooperation and development (BMZ). Are responsible for the creation and support GmbH and the Frankfurt School of finance and management the Deutsche Gesellschaft fur Technische Zusammenarbeit (GTZ). Since the latest expansion, the page shows the best and fastest way for transfers from Germany in 25 countries. For even more details, read what St. Peter’s School says on the issue. For many countries such as Viet Nam, Morocco or Afghanistan, remittances of compatriots from overseas are an important source of money. In the year 2007 alone, migrants sent EUR 316 billion in all over the world in their countries of origin.

You count the money, not through transfers, but cash arrived, is the sum still to a lot higher. According to the United States and Saudi Arabia Germany among the main countries of origin of these so-called remittances”. The migrants pay partly very high fees for the transfers however. Would be used to lower the transfer fees to a level that is common within the European Union, significantly more money on the recipients locally would be. That wants to achieve the BMZ with the service platform. The seven leading industrial countries and Russia agreed in 2004 to cut the cost of money transfers in developing countries by half. The objective is however not yet been reached. In the UK the fees for money transfers were reduced thanks to greater cost transparency through the site after India for example by 40 percent.

The BMZ also by the German Internet portal hopes for a similar effect. The whole thing works so: Who clicks on, can choose his desired destination. Then, he enters the sum that he would like to transfer. He can choose different ways of payment: about cheque, cash transportation, foreign bank transfer from account to account, online or by telephone order. The Internet service then compares the offers about 40 different party, seeks out the cheapest rate and displays how long the transfer. The result, for example, the information that the cost for a transfer of 100 by Germany after Viet Nam varies between 1.50 and 40. As a global enterprise of international cooperation for sustainable development, the Deutsche Gesellschaft fur Technische Zusammenarbeit (GTZ) GmbH supports the German Government in achieving its development-policy objectives. It offers future-proof solutions for political, economic, ecological and social development in a globalised world and promotes complex reforms and processes of change even under difficult conditions. Its goal is to improve the living conditions of the people.

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